Ambac Financial Group (NYSE:AMBC) Releases Earnings Results, Beats Expectations By $0.61 EPS

Ambac Financial Group (NYSE:AMBC) announced its quarterly earnings data on Monday. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.61, Zacks reports. Ambac Financial Group had a return on equity of 6.99% and a net margin of 1.48%. The business had revenue of $103.00 million for the quarter. During the same quarter in the previous year, the business posted ($0.30) earnings per share.

Ambac Financial Group Stock Up 0.6 %

Shares of NYSE:AMBC traded up $0.10 during trading hours on Wednesday, reaching $18.14. The stock had a trading volume of 115,573 shares, compared to its average volume of 379,298. The stock has a market capitalization of $820.29 million, a price-to-earnings ratio of 120.27 and a beta of 1.30. The firm’s 50 day moving average is $15.16 and its 200-day moving average is $15.21. Ambac Financial Group has a 1 year low of $11.26 and a 1 year high of $18.38. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.72 and a current ratio of 0.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Ambac Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday.

About Ambac Financial Group

Ambac Financial Group, Inc operates as a financial services holding company. It operates three businesses: Specialty Property and Casualty Insurance, Insurance Distribution, and Legacy Financial Guarantee (LFG) Insurance. The Specialty Property and Casualty Insurance business provides specialty property and casualty program insurance with a focus commercial and personal liability risks.